Israeli marketing platform company AppCard has acquired US company ProLogic retail Services. No financial details were disclosed.
AppCard says that its state of the art machine learning technology will combine with ProLogic's vertical expertise and strong market presence to position it as the leading loyalty and digital offers provider for the grocery market. The combined expertise and scale will allow AppCard to better serve grocers' current and future needs with highly effective marketing solutions.
AppCard was founded by CEO Yair Goldfinger and CTO Amichay Oren. Goldfinger is a talismanic serial entrepreneur and angel investor best known as one of the founders of ICQ developer Mirabilis in the 1990s, which was sold to AOL. He has also founded Dotomi, a personalized online-advertising platform acquired by ValueClick. AppCard is funded by Jerry Yang of Yahoo, Peter Thiel's Founders Fund, Eric Schmidt's Innovation Endeavors, Alexander Rittweger of PAYBACK, and PLDT Capital.
Goldfinger said, "We are very excited to welcome the ProLogic team to the AppCard family. It is an exhilarating time for retail in general, and the grocery industry in particular. By uniting ProLogic's best in class loyalty platform with AppCard's data-driven, machine learning marketing engine, we are creating a joint platform that will guarantee our retailers the ability to continue growing their businesses while remaining competitive in this ever-changing landscape."
Following the acquisition, AppCard will be processing 500 million transactions per year and reach more than 17 million households, which represents one eighth of the US households.
"As the largest loyalty provider for independent grocers and a trusted partner to many of the best operators in the country, ProLogic is extremely pleased to be combining with AppCard", says Ross Ely, President and CEO of ProLogic Retail Services. "AppCard's technological strength coupled with ProLogic's knowledge and experience in the independent grocery industry will create a powerful industry player that delivers tremendous value to its customers."
The acquisition further emphasizes AppCard's commitment to its retailer and wholesaler partners in the grocery industry. The vision and strategy remains clear: to empower retailers to understand their shoppers' purchasing preferences and communicate with them in a personalized manner to build a relationship that entices behavior and results in true loyalty.
Published by Globes [online], Israel business news - www.globes-online.com - on August 13, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017